'Tesla is and remains one of our biggest and our best short positions.'
A rumor that famed short seller Jim Chanos of Kynikos Associates has covered his shorts on Tesla Inc. is greatly exaggerated. It is, in fact, plain wrong.
‘Tesla is and remains one of our biggest and our best short positions. ... We are still bears.’ Jim Chanos The talk about Tesla TSLA, +0.74% happens around the 31st minute, when host Keith McCullough of HedgeyeTV refers opaquely to a company “that likes to do business in China.” Tesla shares have traded in a range for some five years, Chanos said. The short seller went on to say that, contrary to what some bears might be saying about the company, it is unlikely that Tesla is facing imminent bankruptcy.On the other hand, its stock valuation raises concerns. Tesla is an automobile maker, and auto stocks “don’t perform a lot” because the business is so capital-intensive, Chanos said.
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